Why does pro leagues allow players to own horses?

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I don't see a reason why it is a problem for Pro Players Owning Race Horses ??

It has been going on for Years !! Going back to the Early 80's Lou Piniella headed a Major Partnership with Roy White and like 6 other Ball Players.
They had Owned somewhere like 20-30 Standardbreds.

All kind of Pro Players have owned Race Horses, NHL,NFL,MLB, Boxing, etc.

Wayne Chrebet has made a name for himself Also in the Harness Business
He owns or had owned a lot of Very Good Horses in the past 8 Years.

Now it wasn't always that much fun for him. As his First couple of horses that he bought, He got Ripped off by his first Trainer ( taken for a Ride )
Spent like $100K on a couple of horses that wasn't worth a Ham Sandwich
But he Loved it so much and gave it another shot. And it has Paid off.

Going as far as Holding a Trainers Lic. and now a Drivers Lic. for Harness Racings.

There is One Major Golden Rule in the Horse Business, As a Owner or Trainer. You Can Bet on the horses, But You Can't Bet another Horse, if you have a Horse that you Own or Train in the Same Race !

And like Others have Already Said, Horse Racing is Legal ! Just about Everywhere.
 

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MLB post's the rule against wagering on baseball in every clubhouse. I am not sure on other sports, but it would stand to reason this would also be banned.
 

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